Plz help me! I’m not sure how to do these!
1 answer:
You might be interested in
✧･ﾟ: *✧･ﾟ:* *:･ﾟ✧*:･ﾟ✧
Hello!
✧･ﾟ: *✧･ﾟ:* *:･ﾟ✧*:･ﾟ✧
❖ 20% as as a fraction in lowest terms is
Percents are out of 100% so write 20% out of 100% as a fraction:
Both the numerator and denominator can be divided by 20 so once divided, you get
~ ʜᴏᴘᴇ ᴛʜɪꜱ ʜᴇʟᴘꜱ! :) ♡
~ ᴄʟᴏᴜᴛᴀɴꜱᴡᴇʀꜱ
The expression gives the value of your investment is
The value of investment after 5 years is $ 1683.06
<em><u>Solution:</u></em>
Given that You invest $1200 and it grows at a rate of 7% for 5 years
To find: Expression that gives the value of your investment
From given information,
Principal = $ 1200
rate of interest = 7 %
number of years = 5 years
The formula for compound interest, including principal sum, is:
Where,
A = the future value of the investment/loan, including interest
P = the principal investment amount (the initial deposit or loan amount)
r = the annual interest rate (decimal)
n = the number of times that interest is compounded per unit t
t = the time the money is invested or borrowed for
Assuming interest is compounded annually, n = 1
Substituting the values we get,
Thus the value of investment after 5 years is $ 1683.06